A purchase order or contract is required for the purchase of any good(s) or service(s) provided to the University over $5,000. This includes contracts for services (personal, professional, or consultant), booth rentals at tradeshows, rental of conference rooms at hotels, international travel groups, etc.
A contract may be necessary for income, expense, or zero dollar activities. Any agreement (no matter the amount) with another agency that requires a signature for terms, conditions or liability should be sent to FIO for processing.
NO INDIVIDUAL IN THE COLLEGE HAS AUTHORITY TO SIGN A CONTRACT ON BEHALF OF UTK.
After FIO has reviewed and prepared the appropriate documentation, contracts are submitted for legal review and signature at the campus level.
Jenny Colson should be contacted when you first learn about your project so preliminary paperwork can be completed. This can be done weeks or even months before the start date. This will allow sufficient time for processing and a fully executed contract in place prior to the starting date of the contract.
The same procedure for processing contract invoices should be followed as for regular invoices except the contract number should be referenced on the invoice. The contract GL Ledger code is 437500.
More in depth details regarding contracts can be found on the UT Fiscal Policy website.
If you should have any questions regarding Contracts, please contact Jenny Colson at (865) 974-6278.
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Financial Information Office
453 Haslam Business Building
Knoxville, TN 37996-4140
Phone: (865) 974-1770
Fax: (865) 974-3663
Fax: (865) 974-4237